Sunday, June 24, 2007

How to make money with your knowledge

The following is a series of steps to go through if you want to make money by selling your knowledge.
  1. You must have valuable, practical knowledge. Often, it comes from books, professional experience, hobbies, etc.
  2. You must write down on a piece of paper the "table of contents" of your knowledge. For instance, if you're a marketing professional, you might write a table of content as follows: a) How to segment a market for maximum effectiveness, b) How to design and run a direct marketing program, c) How to recruit a sales force and train / motivate them
  3. You must then develop the Table of Contents into an actual document (white paper, ebook, technical article, executive brief, etc.) that you can send to people who are interested in buying your knowledge. This document can be five pages long, or 200 pages. Quality matters more than quantity.
  4. You must clearly describe the kind of person who would buy your knowledge, in terms of age, educational level, industry, profession, stage of career, benefit sought, etc.
  5. You must develop a strategy to reach the market described in #4.
  6. You must develop and implement a direct marketing campaign to offer your knowledge (in audio, video or text format) to the target market described in #4 and reached through #5.
  7. You must create a Payloadz account so that you can upload your document and enable buyers to conveniently buy your knowledge product online.